"Modern HFT wasn't a paradigm shift because its innovations brought new efficiencies into the marketplace. HFT was a paradigm shift because its innovations proved that anti-competitive barriers to entry could be erected in the market structure itself to preference one class of market participant above all others."

Haim Bodek’s book is a much-needed insight on high-frequency trading and the architecture of securities markets. Accessible to outsiders and free of hype, this book offers a concise analysis of relevant concerns and advances thought-provoking proposals for regulatory reform.

— Stanislav Dolgopolov, Assistant Adjunct Professor, UCLA School of Law

Haim Bodek lays out the problems created by the explosion of High Frequency Trading

— Ted Kaufman, Fmr. U.S. Senator from Delaware

This is a must-read for any trader in the markets. It’s that simple. Mr. Bodek is shining a light onto the troubling games and unfair practices that have actually come to serve as the foundation of our high speed marketplace.

— Sal Arnuk, Co-Founder Themis Trading LLC & Co-Author Broken Markets

Today the US Equities market is comprised of 13 Exchanges, 50 dark pools and a host of internalizing brokers. ... Haim Bodek has both been on the front lines of understanding the penalties of not fully comprehending this complexity, but also helping bring this complexity to light. This book is a must read by anyone attempting to fully understand the challenges of professionally competing in today’s complex and challenging electronic trading environment.